Thursday, December 1, 2016

Return of the Trillion Dollar Deficit

On 11/30/2016, the national debt was at 19,948 B.  One year prior, on 11/30/2015, the debt was at 18,827 B.  So it increased by over $1 trillion in the following year.  This marks the 9th consecutive month (since March 2016) in which the national debt was at least $1 trillion higher than the same point one year prior.

I don't think we will ever again see a situation in which it isn't at least 1 trillion more than the prior year, unless there is some phony freeze. So with interest rates rising, and the national debt rapidly increasing, interest costs on the debt will rise rapidly as well.

I purposely haven't done a long-term debt forecast in more than 3 years, but I think it is time for another one.

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